Deja vu? Another weekend of bank turmoil
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It’s been a tough couple of weeks for the global banking sector — the embattled lender Credit Suisse was purchased by fellow Swiss rival UBS for a motley sum of around $3 billion. University of Michigan professor Erik Gordon explains what that means amid the wider unease about the financial sector. Meanwhile, the Fed was one a group of the world’s central banks that came up with system to ensure banks have cash if they need it. And, a look into what’s happened to Signature Bank since it was acquired by federal regulators little over a week ago.
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